Equatorial Guinea, has launched bids for 37 oil and gas exploration blocks of which 32 are offshore, till November 30, 2016 and plans to grant licences in January 2017.

According to the Minister of Mines, Industry and Energy, Gabriel Mbaga Obiang Lima (photo), the country wants Exxon Mobil Corp. to continue as an operator in the country, even though the company has not renewed its licence for the country’s highest-producing field.

The government is still in talks with Exxon following the company’s decision in October, 2015 to not extend its licence to operate the Zafiro oil field.

“The license was not renewed, but we still want them to continue to be operating in the country. That field will not be in the next licencing round as it is already a productive field,” Lima told Bloomberg.

Exxon owns a 71.25% participating interest in Block B of the Zafiro oil field. Energy Information Administration (EIA) revealed in an April report that although the field continues to be the country’s biggest producing deposit, production has reduced by over half of its peak.

Equatorial Guinea produced an average of 270,000 bpd in 2014, down from 369,000 bpd in 2007. The country is currently waiting to see who Hess Corp., which operates the Ceiba and Okume fields, is in talks with concerning the sale of offshore assets.

“If it is a party we are interested in then naturally we will approve the sale,” Lima added.

Anita Fatunji